Investment holding in RiverCity Motorway (9547B)
February 28 2011 - 3:34AM
UK Regulatory
TIDMINPP
RNS Number : 9547B
International Public Partnership Ld
28 February 2011
28(th) February 2011
INTERNATIONAL PUBLIC PARTNERSHIPS LIMITED
Investment holding in RiverCity Motorway
International Public Partnerships Limited ("the Company") notes
the announcement made on 25(th) February 2011 by RiverCity Motorway
Pty Limited (a company listed on the Australian Stock Exchange)
that KordaMentha had been appointed as receiver and managers to the
RiverCity Motorway group. The Company holds a 3.82% interest in
RiverCity Motorway Pty Limited. As at 31(st) December 2010 the
Company valued this holding on a mark to market basis at less than
GBP220,000, which represented less than 0.1% of the Company's
portfolio. The Company awaits further information but has been
monitoring this position for some time and is unsurprised by this
development. The RiverCity Motorway project differs from the
remainder of the Company's portfolio in that revenues generated by
the project are based on the level of demand for that asset (i.e.
motorists paying a toll) rather than the availability of the asset,
the latter being the basis upon which the remainder of the
portfolio's revenues are received and which is uncorrelated to the
level of demand for an asset..
For further information:
Bianca Francis +44 (0)20 7939 0558
Amber Fund Management Limited
Nick Westlake/Hugh Jonathan +44 (0)20 7260 1345/1263
Numis Securities
Ed Gascoigne-Pees/Ed Berry +44 (0)20 7269 7132/7297 Financial
Dynamics
Notes to Editors:
About International Public Partnerships (INPP):
International Public Partnerships Limited (INPP) is a listed
infrastructure investment company which invests in global public
infrastructure projects developed under the public private
partnerships (PPP) and private finance initiative (PFI) procurement
methods.
Listed in 2006, INPP is a long-term investor in 55 social and
transport infrastructure projects, including schools, hospitals,
courts, police headquarters and transport projects in the U.K.,
Europe, Australia and Canada. INPP seeks to provide its
shareholders with both a long-term government-backed yield and
capital growth through investment across both construction and
operational phases of 25-40 year concessions.
Amber Infrastructure Group (Amber) is the Investment Advisor to
INPP and consists of more than 50 dedicated infrastructure
specialists which originate and source a strong pipeline of
projects for INPP.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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